bdswiss_-_forex_cfd_and_binary_options_-_2016-06-06_10-06-47From Investor to Scalper – series of studies created in cooperation with broker BDSwiss, in which we take a financial instrument and the analysis includes a detailed look at the value from the monthly chart and ending with 5/15 minutes.


AUDCAD currency pair for a long time moves in a fairly large consolidation between the levels of 0.7500 – 1.1050. In October 2008 there was a trial of breaking the bottom of this consolidation, but it turned out unsuccessful, however, as a result of which a dynamic drop established the new historical minima.

AUDCAD Monthly
AUDCAD Monthly

Looking at the weekly chart, we see that at the beginning of November, the market rejected resistance at 1.0330  and therefore soon we can expect declines, for which the potential target could be even around the level 0.9170.

AUDCAD Weekly
AUDCAD Weekly

On the daily chart, we see that the November decline reached perfectly a level of  the momentum of 50% Fibonacci correction of previous increases. Currently is re-testing from the bottom recently defeated local level of support (now resistance), whose rejection would cause a continuation of declines.

AUDCAD Daily
AUDCAD Daily

Looking at the chart H4 we can see that the potential upward correction could reach a little further to 1.0058 resistance and located in its neighborhood level 38.2% Fibonacci correction.

The analysis was performed on the platform Broker BDSwiss that offers levers to 1: 500 and low spreads

AUDCAD H4
AUDCAD H4

Continuation of growth in the near future could suggest yesterday’s breaking the downtrend line, and today’s  defeat of  the re-tested current level of 0.9984. It is worth noting that the growth dynamics not suggest that it was a new impulse but only deeper correction.

AUDCAD H1
AUDCAD H1

On the M15 chart we see that the currently tested support also coincides with measuring the 50% Fibo correction of the last pulse of growth.

To invest check offer frm  Broker BDSwiss and use a low spread, which at the time of the creation of analysis AUDCAD was 2.6 pips

AUDCAD M15
AUDCAD M15

BDSwiss offers its customers a sophisticated and reliable tool to invest in the market CFD / Forex. Especially novices can result in the safe introduction into the world of financial investments. The educational program of seminars and live comments market traders meet the expectations of those who want to learn how to invest successfully, which is building a great partnership between BDSwiss and its customers.

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Dargo
Since 2010, he has been actively involved in the Forex market up to now. He is a supporter of Price Action and using as few indicators as possible. He believes that the simplicity of the system and consistency in its application is the best way to success in financial markets, and lack of patience is the most frequent cause of failure. Interested in classical systems based on Technical Analysis and in psychology - mechanisms that guide human behavior and conditioning decision making in trading.